The Index may correct further if it sustains the breach below the 9,000 level; such corrections may take the Index down to the 8,800 level then the 8,600 level. The Index would need to breakout above the 9,200 level to become bullish again.

1. Technical Spotlight
Sunday, January 14, 2018
1
‫اليومي‬ ‫الفني‬ ‫التحليل‬–‫قطر‬ ‫بورصة‬
Daily Technical Trader – QATAR
Thursday, May 03, 2018
QSE Index Overview QSE Index Daily Chart ‫السوق‬ ‫لمؤشر‬ ‫اليومي‬ ‫البياني‬ ‫الرسم‬ ‫على‬ ‫نظرة‬‫العام‬ ‫المؤشر‬
The Index may correct
further if it sustains the
breach below the 9,000 level;
such corrections may take
the Index down to the 8,800
level then the 8,600 level.
The Index would need to
breakout above the 9,200
level to become bullish again.
‫قد‬‫يصحح‬‫المؤشر‬‫لبورصة‬ ‫العام‬
‫قطر‬‫أكثر‬‫إذا‬‫حافظ‬‫على‬‫االختراق‬
‫تحت‬‫مستوى‬9000.‫و‬‫هذه‬
‫التصحيحات‬‫قد‬‫تأخذ‬‫المؤشر‬
‫ًا‬‫ي‬‫هبوط‬‫إلى‬‫مستوى‬8800‫نقطة‬
‫ثم‬‫مستوى‬8600‫نقطة‬.‫سوف‬
‫يحتاج‬‫المؤشر‬‫لالرتفاع‬‫فوق‬
‫المستوى‬‫الـ‬9200‫نقطة‬‫ليصبح‬
‫ت‬‫ص‬‫ا‬‫ع‬‫ًا‬‫ي‬‫د‬‫مرة‬‫أخرى‬.
Expected Resistance Level:
9,000
Expected Support Level:
8,800
Market Indicators ‫السوق‬ ‫مؤشرات‬
02 May 01 May % ∆
Index Last Close 8,953.40 9,014.32 -0.68 ‫العام‬ ‫للمؤشر‬ ‫إقفال‬ ‫آخر‬
Value (QR mn) 208.4 221.4 -5.9 )‫لاير‬ ‫(مليون‬ ‫المتداولة‬ ‫القيمة‬
Exchange Market
Cap. (QR bn)
498.0 501.1 -0.6
‫السوقية‬ ‫القيمة‬‫إلجمالي‬
‫االسهم‬)‫لاير‬ ‫(مليار‬
Volume (mn) 9.5 10.7 -11.3 )‫سهم‬ ‫(مليون‬ ‫التداول‬ ‫حجم‬
Number of Trans. 3,725 3,073 21.2 ‫المنفذة‬ ‫العقود‬ ‫عدد‬
Companies Traded 41 42 -2.4 ‫المتداولة‬ ‫الشركات‬ ‫عدد‬
Market Breadth 9:31 6:34 – ‫السوق‬ ‫عمق‬
:‫المتوقع‬ ‫المقاومة‬ ‫مستوى‬
9,000
:‫المتوقع‬ ‫الدعم‬ ‫مستوى‬
8,800

2. 2
QATAR FUEL – WOQOD ‫وقود‬
Stock Overview Daily Chart ‫البياني‬ ‫الرسم‬‫اليومي‬ ‫على‬ ‫نظرة‬‫السهم‬
We sent out a buy-trade idea
on the 9th
of last April, the
name reached our target and
then some. Now, the name
reached a strong resistance
level and the price is
consolidating around that
level. A price breach below
QR135.50 creates an intra-
day double-top formation,
which is corrective in nature
against the clear up trend.
‫لقد‬‫أرسلنا‬‫فكرة‬‫شراء‬‫السهم‬ ‫على‬
‫في‬‫التاسع‬‫من‬‫شهر‬‫أبريل‬
‫الماضي‬،‫وقد‬‫وصل‬‫السهم‬ ‫سعر‬
‫إلى‬‫االهداف‬‫واستمر‬ ‫المتوقعة‬
‫بصعوده‬.‫أما‬‫اآلن‬،‫فقد‬‫وصل‬
‫ال‬‫س‬‫ه‬‫م‬‫إلى‬‫مستوى‬‫مقاومة‬‫قوي‬
‫وتماسك‬‫السعر‬‫حول‬‫هذا‬‫المستوى‬.
‫لكن‬‫ا‬‫خ‬‫تر‬‫ا‬‫ق‬‫السعر‬‫مستوى‬ ‫تحت‬
135.50ً‫ال‬‫ريا‬ً‫ا‬‫قطري‬،‫س‬‫يؤدي‬
‫إلى‬‫تشكيل‬‫قمة‬‫مزدوجة‬‫داخلية‬،
‫وهو‬‫أمر‬‫تصحيحي‬‫في‬‫طبيعته‬
‫ضد‬‫االتجاه‬‫الصعودي‬‫الواضح‬.
Expected Price Retreat:
QR130.00 – QR123.00
A price breach below the
QR135.50 triggers the sell
idea
Last Px. ‫سعر‬‫االقفال‬ % ∆ ‫التغير‬ % Volume ‫التداول‬ ‫حجم‬
138.80 0.95 172,357
Resistance/Support Levels ‫والمقاومة‬ ‫الدعم‬ ‫مستويات‬
Level 1st
‫األول‬ 2nd
‫الثاني‬ 3rd
‫الثالث‬ ‫المستوى‬
Resistance 145.20 148.00 151.40 ‫مقاومة‬
Support 135.50 130.00 123.00 ‫دعم‬
:‫المتوقعة‬ ‫السعرية‬ ‫األهداف‬
130.00‫لاير‬–123.00‫لاير‬
‫نرجح‬‫البيع‬‫السعر‬ ‫اختراق‬ ‫حال‬ ‫في‬
‫مستوى‬ ‫تحت‬135.50‫لاير‬.

3. 3
:‫التعريفات‬
:‫اليابانية‬ ‫الشموع‬‫مح‬ ‫فترة‬ ‫خالل‬ ‫السهم‬ ‫وصله‬ ‫سعر‬ ‫أدنى‬ ‫و‬ ‫أعلى‬ ‫و‬ ‫اإلغالق‬ ‫و‬ ‫االفتتاح‬ ‫سعر‬ ‫الرسم‬ ‫يحدد‬ .‫قديمة‬ ‫يابانية‬ ‫طريقة‬ ‫على‬ ‫األسعار‬ ‫رسم‬ ‫طرق‬ ‫أحد‬ ‫هي‬ ‫و‬‫و‬ .‫ددة‬
‫ال‬ ‫و‬ ‫االفتتاح‬ ‫سعر‬ ‫من‬ ‫أقل‬ ‫اإلغالق‬ ‫سعر‬ ‫أن‬ ‫تعني‬ ‫الملونة‬ ‫الشمعة‬ .‫اإلغالق‬ ‫و‬ ‫اإلفتتاح‬ ‫بسعر‬ ‫تتحدد‬ ‫حيث‬ ‫الشمعة‬ "‫"جسم‬ ‫من‬ ‫الشمعة‬ ‫تتكون‬.‫البيضاء‬ ‫للشمعة‬ ‫بالنسبة‬ ‫صحيح‬ ‫عكس‬
‫ال‬ ‫شكل‬ ‫فإن‬ ,‫عامة‬ ‫بصورة‬ .‫المطلوبة‬ ‫الفترة‬ ‫خالل‬ ‫السهم‬ ‫وصله‬ ‫سعر‬ ‫أقل‬ ‫و‬ ‫أعلى‬ ‫يحدد‬ ‫لظل‬ ‫هذا‬ ‫و‬ ‫الشمعة‬ "‫"ظل‬ ‫بـ‬ ‫يسمى‬ ‫ما‬ ‫اليابانية‬ ‫للشمعة‬‫استمرار‬ ‫من‬ ‫كثيرة‬ ‫دالالت‬ ‫له‬ ‫شمعة‬
.‫انعكاسه‬ ‫أو‬ ‫السهم‬ ‫التجاه‬
:‫الدعم‬ ‫مستوى‬‫د‬ ‫مستويات‬ ‫إلى‬ ‫السهم‬ ‫انخفاض‬ ‫احتمال‬ ‫من‬ ‫يقلل‬ ‫هذا‬ ‫و‬ ,‫البيع‬ ‫من‬ ‫أكثر‬ ‫الشراء‬ ‫على‬ ‫فيه‬ ‫المتداولين‬ ‫يشارك‬ ‫أن‬ ‫فيه‬ ‫يتوقع‬ ‫الذي‬ ‫المستوى‬ ‫هو‬ ‫و‬.‫نية‬
:‫المقاومة‬ ‫مستوى‬‫ا‬ ‫السهم‬ ‫ارتفاع‬ ‫احتمال‬ ‫من‬ ‫يقلل‬ ‫ذلك‬ ‫و‬ ,‫الشراء‬ ‫من‬ ‫أكثر‬ ‫بالبيع‬ ‫المتداولون‬ ‫يقوم‬ ‫أن‬ ‫يتوقع‬ ‫حيث‬ ,‫الدعم‬ ‫مستوى‬ ‫عكس‬ ‫هو‬ ‫و‬.‫أعلى‬ ‫مستويات‬ ‫لى‬
:‫البسيط‬ ‫المتحرك‬ ‫المتوسط‬‫و‬ ‫البيع‬ ‫عالمات‬ ‫إعطاء‬ ‫في‬ ‫متأخر‬ ‫المؤشر‬ ‫هذا‬ ‫يعتبر‬ ‫السبب‬ ‫لهذا‬ ‫المختارة‬ ‫الفترات‬ ‫من‬ ‫محدد‬ ‫عدد‬ ‫على‬ ‫السهم‬ ‫سعر‬ ‫معدل‬ ‫يحسب‬ ‫حسابي‬ ‫متوسط‬ ‫هو‬
‫ك‬ ‫أغراضا‬ ‫للمتوسطات‬ ،‫عام‬ ‫بشكل‬ .‫اإلغالق‬ ‫أسعار‬ ‫تستخدم‬ ‫تحليلنا‬ ‫في‬ ‫المستخدمة‬ ‫المتوسطات‬ .‫الشراء‬‫و‬ ‫السعر‬ ‫تقلبات‬ ‫حدة‬ ‫تقليل‬ ،‫تأشيري‬ ‫السعر‬ ‫اتجاه‬ ‫لمعرفة‬ ‫أداة‬ ‫مثل‬ ،‫ثيرة‬
.‫االستخدامات‬ ‫من‬ ‫ذلك‬ ‫غير‬ ‫إلى‬ ‫و‬ ‫المقاومة‬ ‫و‬ ‫للدعم‬ ‫المحتملة‬ ‫المستويات‬
‫ال‬ ‫عمق‬:‫سوق‬.‫معين‬ ‫يوم‬ ‫تبادل‬ ‫في‬ ‫المتراجعة‬ ‫األسهم‬ ‫عدد‬ ‫مقابل‬ ‫ارتفاع‬ ‫على‬ ‫أقفلت‬ ‫و‬ ‫تداولها‬ ‫تم‬ ‫التي‬ ‫المالية‬ ‫األوراق‬ ‫عدد‬ ‫إلى‬ ‫يشير‬
‫ا‬( ‫التباعد‬ / ‫التقارب‬ ‫المتحرك‬ ‫لمتوسط‬MACD:)‫و‬ ‫اتجاه‬ ‫و‬ ‫قوة‬ ‫في‬ ‫التغيرات‬ ‫على‬ ‫يدل‬ ‫تداول‬ ‫مؤشر‬ ‫هو‬‫حسابات‬ ‫مجموعة‬ ‫خالل‬ ‫من‬ ‫األسهم‬ ‫أسعار‬ ‫زخم‬‫مكونة‬‫ثالثة‬ ‫من‬
‫اإلغالق‬ ‫أسعار‬ ‫بيانات‬ ‫من‬ ‫محسوبة‬ ‫زمنية‬ ‫سالسل‬.‫التاريخية‬
( ‫النسبية‬ ‫القوة‬ ‫مؤشر‬RSI:)‫سعر‬ ‫تحرك‬ ‫قوة‬ ‫يقارن‬ ‫فني‬ ‫مؤشر‬ ‫هو‬ ‫و‬‫بين‬ ‫المؤشر‬ ‫يتذبذب‬ .‫المتداولين‬ ‫قبل‬ ‫من‬ ‫البيع‬ ‫أو‬ ‫الشراء‬ ‫ذروة‬ ‫لتحديد‬ ‫منه‬ ‫محاولة‬ ‫معينة‬ ‫فترة‬ ‫خالل‬ ‫السهم‬
‫ال‬0‫ال‬ ‫و‬100‫ال‬ ‫فوق‬ ‫قراءات‬ ‫الى‬ ‫المؤشر‬ ‫وصول‬ ‫يعتبر‬ ,‫عام‬ ‫بشكل‬ ‫و‬ .‫درجة‬70‫ال‬ ‫تحت‬ ‫و‬ ‫الشراء‬ ‫ذروة‬ ‫مناطق‬ ‫الى‬ ‫وصل‬ ‫قد‬ ‫السعر‬ ‫بأن‬ ‫درجة‬30‫لمستويات‬ ‫درجة‬
.‫البيع‬ ‫ذروة‬
‫نمط‬:‫األسعار‬ ‫شكل‬ /‫(مث‬ ‫مختلفة‬ ‫أشكال‬ ‫في‬ ‫السعرية‬ ‫األنماط‬ ‫هذه‬ ‫تأتي‬ ‫و‬ .‫الفني‬ ‫التحليل‬ ‫وسط‬ ‫في‬ ‫تداولها‬ ‫يتم‬ ‫معينة‬ ‫أشكال‬ ‫حسب‬ ‫السهم‬ ‫سعر‬ ‫لحركة‬ ‫استقراء‬ ‫هو‬ ‫و‬‫الرأس‬ ‫ل‬
‫ونقاط‬ ‫انعكاسها‬ ‫أو‬ ‫السهم‬ ‫لحركة‬ ‫المحتملة‬ ‫االتجاهات‬ ‫لتحديد‬ ‫األشكال‬ ‫تستخدم‬ ‫و‬ .)‫الخ‬ ،‫واألعالم‬ ،‫والمثلثات‬ ‫والكتفين‬.‫االستخدامات‬ ‫من‬ ‫غيرها‬ ‫و‬ ‫والخروج‬ ‫الدخول‬
:‫فيبوناتشي‬ ‫انسحابات‬,‫فيبوناتشي‬ ‫ليوناردو‬ ‫الرياضيات‬ ‫لعالم‬ ‫االنسحابات‬ ‫هذه‬ ‫نسبت‬‫و‬‫على‬ ‫السهم‬ ‫لسعر‬ ‫المقاومة‬ ‫أو‬ ‫للدعم‬ ‫المتوقعة‬ ‫المناطق‬ ‫إلى‬ ‫تشير‬ ‫التي‬ ‫األفقية‬ ‫الخطوط‬ ‫هي‬
‫التالية‬ ‫المستويات‬ ‫تستخدم‬ .‫السابقة‬ ‫األسعار‬ ‫حركة‬ ‫أساس‬‫هي‬ ‫و‬ ‫السهم‬ ‫لذلك‬ ‫السابقة‬ ‫للحركة‬ ‫المحتملة‬ ‫االنسحابات‬ ‫مستويات‬ ‫كأهم‬ ‫للسهم‬23.6,%38.2,%50.0,%61.8%
‫ال‬ ‫مستوى‬ ‫و‬100.0.‫السابقة‬ ‫الحركة‬ ‫أجزاء‬ ‫من‬ %
:‫البينية‬ ‫المقاومة‬ ‫و‬ ‫الدعم‬ ‫مستويات‬ ‫و‬ ‫فيبوناتشي‬ ‫محور‬‫م‬ ‫حسابات‬ ‫المحور‬ ‫لهذا‬ .‫أعاله‬ ‫المذكورة‬ ‫لالنسحابات‬ ‫تماما‬ ‫مختلف‬ ‫هذا‬ ‫و‬‫أقل‬ ‫و‬ ‫سعر‬ ‫أعلى‬ ‫مع‬ ‫اإلغالق‬ ‫سعر‬ ‫من‬ ‫عينة‬
.‫اليومي‬ ‫للتداول‬ ‫متوقعة‬ ‫بينية‬ ‫مقاومة‬ ‫و‬ ‫دعم‬ ‫مستويات‬ ‫منها‬ ‫يستخلص‬ ‫السابق‬ ‫لليوم‬ ‫سعر‬

4. 4
Definitions
Candlestick: A chart that displays the high, low, opening and closing prices for a security in a single period. The body of the candle is made up by
the opening and the closing prices, i.e., the taller the body the greater the range between these two prices and vice versa. A colored candle
denotes a closing price that is lower than the opening price, while a white candle shows the opposite. The candlestick's shadows or wicks show
the period's high and low prices and how they compare to the opening and closing price. In general, the shape of the candle will vary upon the
positions of the period's high, low, opening and closing prices.
Support: A level that could cause more buyers to step in in order to prevent the security from falling or causing the security price to head higher.
Resistance: An inverse of a support level. A resistance area or level could cause more sellers to step in in order to prevent the security from rising
or causing the security price to head lower.
SMA (Simple Moving Average): Is an arithmetic average, which calculates the average price of a security over a defined number of periods and is
thus considered a lagging indicator. SMAs used in our analysis refer to closing prices. In general, SMAs serve many purposes, such as a
smoothing tool, an indicative price direction and potential support/resistance levels.
Market Breadth: Breadth indicates the number of securities that have closed higher vs. the number of decliners in a particular exchange.
MACD (Moving Average Convergence/Divergence): Is a trading indicator, which shows changes in the strength, direction, momentum and
duration of a trend in a stock's price through a collection of three time series calculated from historical closing price data.
RSI (Relative Strength Index): Is a momentum indicator that compares a security’s price gains to its losses for a predetermined number of periods
(we generally use 14 periods). The RSI attempts to point out how a security, in relative terms, is in the overbought/oversold zone. Securities with
a RSI above 70 could be considered as overbought, and below 30 could be considered as oversold.
Pattern/Formation: Is a graphical presentation of a security’s price activity over a certain period of time. Formations come in different shapes
(such as, head & shoulders, triangles, flags, and so on). They can be used to identify potential trends, reversal of trends, price targets, entry and
exit points, etc.
Fibonacci Retracements: Are horizontal lines that indicate expected areas of support/resistance for a security based on a predetermined price
movement. These levels are usually indicated by Fibonacci ratios of 23.6%, 38.2%, 50.0%, 61.8% and 100% from that particular movement.
Fibonacci Pivot and Intraday Support/Resistance: A Pivot Point is generally used to formulate expected future support/resistance levels. From
the base Pivot Point, Fibonacci multiples of the high-low differential are added to form resistance levels and subtracted to form support levels.

5. 5
Contacts
Zaid al-Nafoosi, CMT, CFTe
Senior Research Analyst
Tel: (+974) 4476 6535
zaid.alnafoosi@qnbfs.com.qa
Saugata Sarkar, CFA, CAIA
Head of Research
Tel: (+974) 4476 6534
saugata.sarkar@qnbfs.com.qa
Shahan Keushgerian
Senior Research Analyst
Tel: (+974) 4476 6509
shahan.keushgerian@qnbfs.com.qa
Mohamed Abo Daff
Senior Research Analyst
Tel: (+974) 4476 6589
mohd.abodaff@qnbfs.com.qa
Ahmed El-Khudary
Head of Trading
Tel: (+974) 4476 6533
ahmed.elkhudary@qnbfs.com.qa
Feras al-Sarraj
Head of Sales
Tel: (+974) 4476 6514
feras.alsarraj@qnbfs.com.qa
QNB Financial Services
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
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